| Type | Unsecured Business Loan interest rate and Charges | Unsecured Personal Loan interest rate and Charges |
|---|---|---|
| Interest rate (per annum) | 13.5% to 35% | 16% to 35% |
| Processing Fees (PF in %) | Maximum 4% of the loan amount (exc. GST) | Maximum 4% of the loan amount |
| Cross-sell charges | Capped as part of APR | NA |
| Documentation charges in INR for range of Loan Amounts | Rs. 1200 (inc. GST) | NA |
| Broken Period Interest (BPI) | Scenario 1: If disbursed on 1st ,2nd, or 16th onwards then BPI amount would be part of the instalment. Scenario 2: If disbursed from 3rd to 15th then BPI is 0. First instalment will have partial-month interest on actual number of days |
Scenario 1: If disbursed on 1st ,2nd, or 4th onwards then BPI amount would be part of the instalment. Scenario 2: If disbursed on 3rd then BPI is 0. |
| NACH registration or activation | INR 30/- per registration (inc. GST) | NA |
| Instrument swap charges | INR 500/- (Rupees five hundred only) per swap (inc. GST) | INR 500/- (Rupees five hundred only) per swap. |
| Change in account mapping | INR 500/- (Rupees five hundred only) per request (inc. GST) | INR 500/- (Rupees five hundred only) per request. |
| Foreclosure Charges, if applicable | No foreclosure charges | 5% of principal outstanding |
| Dishonour charges | INR 150/- (Rupees one hundred and fifty only) towards each cheque dishonoured. + GST INR 20/- (Rupees twenty only) towards each dishonour of the ECS/ NACH transaction. |
INR 150/- (Rupees one hundred and fifty only) towards each cheque dishonoured. INR 20/- (Rupees twenty only) towards each dishonour of the ECS/ NACH transaction. |
| Late payment charges or Penal Charges | 0.1% (zero-point one percent) per day or 36% per annum on the overdue principal and interest amount for the period between the due date till the receipt of the entire overdue amount + Rs 300/- (Rupees three hundred only) for each overdue instalment of loan amount. | 0.1% (zero-point one percent) per day or 36% per annum on the overdue principal and interest amount for the period between the due date till the receipt of the entire overdue amount + Rs 300/- (Rupees three hundred only) for each overdue instalment of loan amount. |
| Legal charges | At actuals. | At actuals. |
| Duplicate No Dues Certificate | NA | NA |
| Signature Verification | INR 10/- | NA |
| Cooling-off period* | Up to 2% of the sanction amount (a portion of processing fee) can be retained in case the customer decides to exit the loan in cooling-off period i.e., within 3 days from the day of disbursal | NA |
Please note:
